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What does collateral mean?
What is a collateral property?
What is a collateral relative?
How do you use a house as collateral?
As a noun, collateral means something provided to a lender as a guarantee of repayment. So if you take out a loan or mortgage to buy a car or house, the loan agreement usually states that the car or house is collateral that goes to the lender if the sum isn't paid.
valuable property owned by someone who wants to borrow money, which the person agrees will become the property of the lender (= person or business that lends money) if the debt is not paid back: She put up her house as collateral for the loan.
4 days ago · Collateral is money or property that is used as a guarantee that someone will repay a loan. Many people use personal assets as collateral for small business loans. There is collateral available to be sold if the loans default.
Collateral definition: property or other assets pledged by a borrower as security for the repayment of a loan. See examples of COLLATERAL used in a sentence.
1. Situated or running side by side; parallel. 2. Coinciding in tendency or effect; concomitant or accompanying. 3. Serving to support or corroborate: collateral evidence. 4. Of a secondary nature; subordinate: collateral target damage from a bombing run. 5.
It's what you promise to give someone if you don't repay a loan, like the car you put up as collateral when you take a loan out from the bank. As an adjective, collateral can refer to something indirect or off to the side, like collateral damage.
Accompanying or existing in a subordinate, corroborative, or indirect relationship. Webster's New World. Similar definitions. Serving to support or corroborate. Collateral evidence. American Heritage. Of a secondary nature; subordinate. Collateral target damage from a bombing run. American Heritage. More Adjective Definitions (7) Synonyms:
